Turkey Cards and Payments Market Research Report And Market Forecast: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit How Turkey Cards and Payments Market is Positioned? Turkey cards and payments market which was dominated by cash almost a decade ago and has witnessed advancement towards digital transactions both in terms of number of transactions and volume in the recent years. Turkey is making huge investments in digital technology in order to transform the financial industry most of which is In-house. The young population has been the major driver for increase in the payments via cards as they are embracing advanced technology and new products thereby, helping turkey to move away from traditional methods of payments. The young population coupled with the existing well developed banking infrastructure of the country in order to gain competitive advantage by delivering innovative services ahead of their competitors. The total number of cards in circulation was witnessed to increase from ~ as of 31st December 2013 to ~ as of 31st December 2018, thus displaying a five year CAGR of ~%. Troy – the payment methodology developed by Turkish Banks has been a major game changer in terms of digital methods of payment and has seen a tremendous growth in the acceptance rate over the past few Years due to the Interbank Card Center initiatives also it is fulfilling government’s agenda of making turkey cashless by 2023. Banks have been highly enthusiastic for implementing new financial technology to reach and engage with their customers in order to promote the use of digital methods of payment throughout Turkey. Turkey cards and payments market remains highly competitive and attractive driving it towards a cashless economy. Credit Cards Market Size In the year 1968, Turkey launched its first credit card. Today, Credit card issuers offer multi-branded cards with instalment, use award, and loyalty-point features. Point-of-sale machines are found in most stores around the country, which has made cards as one of the most convenient methods of payment. The usage of cards has been steadily growing with the number of transactions increasing at a CAGR of ~% from 2014 to 2018. The credit card reward and loyalty program is the most significant growth driver for surge in credit card transaction value and transaction volume. The card issuers and operators have been partnering with member merchants in order to increase the customer acquiring rate. The member merchants provide the cardholders with discounts on the purchases or opportunity to earn reward points which can be redeemed later on shopping / air ticket purchases and many more. Turkey Credit Card Market Segmentation, 2014-2018 By Transaction Volume, 2014-2018: The volume of credit card transaction has been on a rise since 2014. The variety of goods and services available in small ticket size has contributed the most to the surge in volume of transactions in recent years. The volume of transactions has increased from ~ million in 2014 to ~ million in 2018. The four year CAGR has been ~%. The advancement in technology – such as RIFD / contactless credit cards, chip and pin cards have contributed in the increase in the Transaction Value. By Transaction Value, 2014-2018: The Transaction Value has shown an absolute growth of ~% since 2014. The highest year on year growth was witnessed in the year 2015 of ~%, as people were more motivated to make credit card transactions because of the card loyalty reward points program were on rise by the issuing bank. The four year CAGR of credit card Transaction Value is ~%. By Average Transaction value, 2014-2018: The average credit card Transaction Value was computed by dividing the total Transaction Volume from total value of transaction. It has been observed that there has been a surge of ~ TRY from 2014 to 2018 respectively. The growth in the average ticket size per transaction hasn’t been much; however, the spending per transaction took a constant growth rate. Last four year CAGR is ~%. This throws light on consolidation in terms of year-on year growth rate of average value of transaction. By Number of Credit Card in Circulation, 2014-2018: It has been observed that the number of credit cards in circulation have gone up from ~ million in 2014 to ~ million in 2018. The surge in the number of cards in circulation is approximately by 10 million which indicates the consumer spending behaviour more on credit. The credit cards issued has been on a rising trend at a four year CAGR of ~%. The year on year growth rate has been in the range of ~% to ~% in the last four years. In the last two years the growth rate has been constant at ~%, indicating the demand of credit card subscription has gone up and the Cardholders are willing to spend more on credit in order to avail the benefits of reward program and other perquisites. Credit cards in circulation has registered slowest growth rate of ~%, which again shot up to ~% each year in 2017 and in 2018 respectively. Key Segments Covered:- Credit cards Value of transaction Volume of transaction Number of Credit card in circulation Domestic Transaction Using Domestic Credit Card International Transaction Using Domestic Credit Card Domestic Transaction using International Credit Card Sectoral Spending Debit Cards Value of transaction Volume of transaction Number of Debit card in circulation Domestic Transaction Using Domestic Debit Card International Transaction Using Domestic Debit Card Domestic Transaction using International Debit Card Sectoral Spending Key Target Audience:- Credit/ Debit Card Operator Credit/ Debit Card Issuers Prepaid Card Issuers/ Operators Local/ Foreign Bank Reward/ Loyalty Program Business Operators Payment gateway provider Credit/ Debit Card Issuer POS Device Manufacturers Debit/ Credit Card Manufacturing companies ATM Manufacturing Entities Investors Time Period Captured in the Report:- Historical Period: 2014-2018 Forecast Period: 2019-2023 Companies Covered in Turkey Card Market:- Issuers Turkiye Cumhuriyeti Ziraat Bankasi AS Turkiye Vakiflar Bankasi TAO Turkiye Halk Bankasi AS Denizbank Yapi ve Kredi Bankasi AS Turkiye Is Bankasi AS (Is bank) Garanti Bankasi AS Ak bank TAS Finansbank AS TEB AS Seker Bankasi AS HSBC Bank AS Citigroup Inc Operators Visa Inc MasterCard International Inc American Express Co Troy For more information, refer to below link:- Turkey Cards and Payments Market Related Reports:- Russia Payment Services Market Outlook To 2025- Breaking New Grounds Through Alternative Payment Systems Such As Contactless Payments Albeit Challenging Profitability Of Incumbent Firms) Saudi Arabia Cards and Payments Market Outlook to 2023 – Increasing Penetration of Islamic Credit Cards Coupled with Rising Preference for Online Shopping to Drive Market Growth Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Ak bank TAS Cards and Payments Market Size, American Express Cards and 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